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Old 04-21-2015, 02:57 PM   #21
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PMBug.. When I initially said that, I think I had enough information at the time to make that assertion. I did however, and getting to your point, since many of the people who have commented in this forum, said that they preferred silver as to gold, due to the fact that it was too expensive, I sort of followed up by agreeing with them.

I believe (and I better watch from now on how I make my assertions) that many in this forum know of James (Jim) Rickards and I follow him religiously and make every effort to get and digest his informative material. Some may think that he .. well, I'll pass on that.. but anyway his book "The death of Money", really intrigued me and most definitely caught my attention. This, and as well many other issues have me to believe that gold has yet to bottom out and soon. I still hold that gold is most definitely overpriced and will sink to $900.00 before it rebounds to an amazing $7,000.00 or more. Gold presently is wavering at $1,200.00 and don't know which direction to go. My prediction is that is will drop like a can of beans, then take off making gold so expensive that it will be out of the reach of many. For that reason, gold is a definite bargain at this time, but for those who want a better profit, they can wait and reap the rewards. $300.00, the difference between now and then, will be clear profit and multiply that by the ounces you have, and you can identify your extra money in the bank. Like the resurrection, gold will die and then come blazing back to life and for those who are ready for this, they will indeed profit tremendously.

Y'all place a marker on this and if I have make an incorrect statement, I will apologize to all.
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Old 04-21-2015, 03:42 PM   #22
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I noticed the statistic that was of some interest to me...

"" Most users ever online was 293, 03-20-2013 at 11:21 AM ""

Just wondering if we should make an effort to break that record. With suggestions from everyone and run them up for discussion we may just break that record and of course, expand the importance and comradery of this forum. May be a waste of time, but then it could very well be quite interesting and rewarding, and a challenge, that is, if we are up to it.

I don't think a special thread has to be made, only that we discuss it at random and whenever. Or just maybe, a special thread may be more meaningful, since it will get everyone together, rather than have a spread with everyone probably not making the right connection, or having a contact. Pros and cons in one area would certainly be more beneficial than having everyone apart in different sessions of the forum.

Anyway, there you go. Something more to digest and probably have implemented in the near future.
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Old 04-21-2015, 05:10 PM   #23
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Originally Posted by Golsil View Post:
PMBug....... I still hold that gold is most definitely overpriced and will sink to $900.00 before it rebounds to an amazing $7,000.00 or more. Gold presently is wavering at $1,200.00 and don't know which direction to go. My prediction is that is will drop like a can of beans, then take off making gold so expensive that it will be out of the reach of many.........
Y'all place a marker on this and if I have make an incorrect statement, I will apologize to all.
How soon does this all happen golsil ?

FOFOA reckons that gold will go to zero and no bid at the same time, then as the dust settles a very high price will coax out a few sellers.

Others say the cost of production will always underwrite pog.

I rather hope we have some kind of orderly reset with SDR or something that is partly gold backed rolled out to hold things together.
Rickards seems to suggest they are all in on the plan and just waiting for china to build a better stash.......
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Old 04-21-2015, 07:29 PM   #24
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Originally Posted by rblong2us View Post:
How soon does this all happen golsil ?

FOFOA reckons that gold will go to zero and no bid at the same time, then as the dust settles a very high price will coax out a few sellers.

Others say the cost of production will always underwrite pog.

I rather hope we have some kind of orderly reset with SDR or something that is partly gold backed rolled out to hold things together.
Rickards seems to suggest they are all in on the plan and just waiting for china to build a better stash.......
I think the game can keep going for many years. There is still plenty of wealth to be extracted from natural and human resources. Combine that with China needing to build a stash, I can see our current situation going for another 5+ years pretty easily. I wouldn't be surprised if it continued for another 20, but then again it could blow tomorrow.

Welcome to the board, Golsil.

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Old 04-22-2015, 09:10 AM   #25
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Originally Posted by Golsil View Post:
Thanks ancona.. I actually live in Canada and tried to get some silver from said company but they could not ship to me. I tried multiple times and finally a representative of the company apologized for the trouble I was having and offered to have me just email her, rather than follow the site's importing instructions, show shipping, items I required and so on. But I just didn't as yet give them a full reply, just acknowledged their proposal.

Import regs I believe are... gold is exempt when in bars, wafers and blocks at 99.5 content, and silver, same form, at 99.9 content. Coins and other items are free duty under NAFTA but taxable.

You are indeed lucky to have the privilege of Cash and Carry. I have to go all over the globe for my purchases. Nothing acceptable locally. I usually have to wait 3 weeks or more before I see my product by getting my metals from an outside source. And I'm pleased with that


Can't you just order directly from the Canadian mint? I prefer Maples over eagles anyway, especially when it comes to the gold version. .9999 gold for a few dollars less than .9167 gold.
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Old 04-22-2015, 01:32 PM   #26
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rblong2us... You ask, how soon does this happen.

Good question. To be exact, I don't know. But I have my eyes open and my ears tuned for the opinions of others. Many I believe, have the idea that investing is just a game of chance. Anyone who thinks that, should call it a day, and pick up another interest. Investing is a full time job you might say. What I mean is, that you have to give it all the time and consideration possible. You just cant sit on it, and let things happen or should I say come to you. You have to get out, get fully involved, study what is on the internet, get into those forums that many times have those who are near experts in this field. I guess the text of the day would be...Keep quiet and listen, you may learn something.

This is my direction on investing. Investing is not like the lottery. If you want to get anything out of investing you have to do the time.
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Old 04-22-2015, 01:51 PM   #27
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11C1P.. Yes I could just as well do that...Order from the Mint. But I sort of took a liking to Silver Gold Bull Inc. of Calgary. Now and then they offer good deals.. You know the saying.. Have I got a deal for you. I picked up some reasonable silver wafers in silver and gold, but not much. I'm waiting for that "Day of Doom" which will come about with the "death of Money", then I will throw everything I can into gold and silver bullion. At this time, I feel that Bullion is much safer, cheaper and more logical than coins. When people are broke they wont be buying coins when some are trying to sell and get rid of them. But if you have raw gold and silver, and knowing that industry will always be in need of those, it will be absolutely simple to get rid of it.

When the "Day of Doom" will happen. Again, I don't know. I'll follow my instincts, listen to others, and then when I feel the time is right, digest what I have learned and go for it.

I guess we are all unique and have our own ways of doing things, but never stop seeking advise from others.
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Old 04-22-2015, 02:47 PM   #28
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...

One of our "folks" (hey, "we advised some folks") suggested "junk silver". From a SHTF perspective junk silver is a great idea, and everyone recognizes the coins (if not the silver value).

Canada had silver coins too, no? If so, there should be junk silver up there as well.

* * *

I note from Bug´s kitco widget that PMs are getting crushed now...

Must be another "flash crash" they will investigate in five years...



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Old 04-23-2015, 12:47 PM   #29
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Originally Posted by Golsil View Post:
11C1P.. Yes I could just as well do that...Order from the Mint. But I sort of took a liking to Silver Gold Bull Inc. of Calgary. Now and then they offer good deals.. You know the saying.. Have I got a deal for you. I picked up some reasonable silver wafers in silver and gold, but not much. I'm waiting for that "Day of Doom" which will come about with the "death of Money", then I will throw everything I can into gold and silver bullion. At this time, I feel that Bullion is much safer, cheaper and more logical than coins. When people are broke they wont be buying coins when some are trying to sell and get rid of them. But if you have raw gold and silver, and knowing that industry will always be in need of those, it will be absolutely simple to get rid of it.

When the "Day of Doom" will happen. Again, I don't know. I'll follow my instincts, listen to others, and then when I feel the time is right, digest what I have learned and go for it.

I guess we are all unique and have our own ways of doing things, but never stop seeking advise from others.
I don't know what day of doom you're imagining, but the silver from the Canadian mint will be just as good, if not better than any other silver. I stack silver maples at about a 5:3 ratio over silver eagles. Not to mention I've taken a real liking to the Canadian mint 10ozt bars. When it comes to Govt. bullion/coins I stack it in an equal amount to private bullion/coins as well as junk silver. I also stack the same amounts in junk silver so my stack is 1/3 junk silver, 1/3 govt. bullion/coins, 1/3 private bullion/coins. If the economy collapses or some other SHTF situation arises to make paper money worthless, I have no doubt that govt. silver/gold would probably be trusted before private and possibly even before junk silver. The main reason I keep the private bullion/coins in equal amount to the others is that the premiums are usually cheaper and that if it stays the main form of currency for an extended period, then people would start learning more about silver and start accepting silver from private mints. I know either way, if I had to accept silver as a form of payment, I have my test kits and other fact sheets to verify pretty much any silver or gold that comes my way.
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Old 04-23-2015, 01:47 PM   #30
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11C1P.. I could fill you in on my thoughts on this "Day of Doom", but I wont. Imagining? I don't think so. Anyway, you hold your thoughts and I'll hold mine. And we will wait and see what happens in the next 2 years.

In the meantime for those who may be interested, I just extracted this from one of my subscriptions. Read it carefully and act accordingly if you wish.

-------------------------------------------------------------------------------------------------

From a supply/demand point of view, we the era of 'peak gold production' is upon us. Based on the calculation of Goldcorp, the number of discoveries peaked in 1995. The development time between discovery and gold mine production is on average 20 years. In other words, gold production will peak in 2015, and the supply of physical gold will decline as of now.

Furthermore, from a market price point of view, today's average production cost for an ounce of gold is $1050 to $1200. Markets are rigged, we agree, but somehow we believe there is still some 'price discovery' going on. All jokes aside, it is probably no coincidence that the gold price is stabilizing around this price level.

-----------------------------------------------------------------------------------------------

Is the Gold Market rigged? I have my own thoughts on this and rather than bust someone's bubble, I'll keep them to myself.

11C1P.. Just wondering when you make your purchases, do you just accept the prices logged or do you try and make a deal with your supplier? This is what I'll be doing from now on. Being frugal is no sin.

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Old 04-23-2015, 10:35 PM   #31
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...

Golsil

I am a follower of Brother FOFOA who believes (convinced) that gold will reach astronimcal "real" prices (2009 non-hyperinflated numbers (the $55,000 / oz guy).

He posits that production matter VERY LITTLE as thee is so much stock around (vs. flow, movement of gold), that the price would not move much even if gold production declines. As he writes (my wording though), there is PLENTY of gold, all you want... Just have to pay the price.

I am inclined to believe him. He also writes that the Central Banks have already made their choice of what wealth really is...: gold! Not silver, not platinum.

(I own Au, Pt, Ag and Pd in declining dollar value)

I likely have a very different view than most on PMs (other than that we should all own physical), so keep reading!


EDIT:

Difficult and LONG reading, but worth it if you are prepared to devote serious time to understanding gold, I would start (yes) in late 2009...:

fofoa.blogspot.com
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Last edited by DoChenRollingBearing; 04-23-2015 at 10:39 PM. Reason: Link to FOFOA
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Old 04-24-2015, 02:29 AM   #32
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Yup.
The Gold Trail that FOFOA has tried to unearth and explain is a very deep rabbit hole but makes so much sense and stands the test of time.

The brain ache it caused me has not gone away and occasional visits to catch up on his work and the awesome exchanges in the comments are the only known cure
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Old 04-24-2015, 09:03 AM   #33
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Fofoa is a great site with lots of real time observations and great historical data.
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Old 04-24-2015, 03:19 PM   #34
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Well..............talk about the "day of doom". It's coming... just read the following:

Governments want to get rid of physical cash. Paper currency is just too private. Digital cash is much easier to track, tax, and confiscate.

Unfortunately, most Americans are too clueless to resist what’s coming. Casey Research contributor Jeff Thomas says the steepel will agree to anything that’s sold as a panacea to their economic woes.

The US government is just waiting for the right opportunity… which Jeff believes will be the next financial crisis. Politicians will blame it on people who “hoard” their cash. Good citizens, you see, give their cash to a bank for safekeeping. We can’t have people hiding cash outside the system under their mattresses.

You can almost hear President Hillary on TV: “Effective immediately, all cash will be digitized. You have 60 days to deposit your paper dollars with a bank. This is for the good of the people.”

--------------------------------------------

So there you are. Interesting indeed. Sure makes one wonder what a wonderful world we are about to live in.
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Old 04-24-2015, 03:52 PM   #35
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Seems to me that a digital cash system would be very expensive and complex for the normal individual. With having to sign into a banking control system and then using your computer (if you have one) to get credits and so on would be an ongoing function just to have funds for everyday use. You would have to use smart cards and such to make a simple thing such as buying a candy bar, or a can of soda pop, which is now straight forward.

Who will prepare, record and follow up on all the digitized material and insure that it is correct. How much will this cost? Where will all this information be stored and protected? What if a terrorist group gets access to and destroys the electronic systems that hold all this information. What happens then. One f------ mess, I would venture to say.

Ah...I think I would rather have my money in my pocket where I know it is safe and it is immediately accessible to me when I need it.
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Old 04-24-2015, 08:47 PM   #36
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Friday night and all is well. Have a good evening, drink as much as you can and enjoy it, but, DO NOT DRIVE YOUR VEHICLE. You are part of the family that now enjoys the togetherness of this forum. Please ensure that it remains that way. Take care.
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Old 04-24-2015, 10:20 PM   #37
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In some of my readings I come across what seems to be very interesting and helpful news. I consider this to be one of them and I know this has nothing to do with Gold or Silver info, I just thought if only one person got something from this it would be worth posting. This information is for Canadians only since it applies to them with reference to their TFSA's if they have one and to those who may wish to sign up for one.
-------------------------------------------------
Parties involved.. Prime Minster, Stephen Harper and his administrators.

The prime minister was firm. No, he said, his government's decision to nearly double the contribution limit for tax-free savings accounts won't hobble cash-strapped governments of the future by costing them billions in foregone tax revenue.

"The TFSA will not be an expensive problem down the road. That's utterly false," he said in Winnipeg on Thursday. "What will happen over time is that the monies held in tax-free savings accounts will grow. That's a very positive thing. It's not going to create a deficit. We have balanced budgets projected for many, many years to come."

His own finance minister didn't help the government's nothing-to-worry-about position when Joe Oliver suggested on Tuesday that his budget's increase of the account limit might indeed be a problem for Canadians to deal with — but only far in the future.

The 2080 date was a reference to a February report from the parliamentary budget officer that a doubling of the tax-free savings account limit to $11,000 could have a fiscal impact for federal and provincial governments of almost $40 billion by 2080.

Exponential growth

It's easy to see how the costs — or benefits, depending on one's point of view — could build exponentially. Someone who has never contributed to an account before can now drop $41,000 into one. In another 10 years, that contribution limit would rise by $10,000 a year to $141,000 — $282,000 for a couple. All income earned by that money would be tax-free.

----------------------------------------------------

Talk about investing. Wow. From $41,000 to $141,000 in 10 years. AND ALL TAX FREE. Take it and do as you please. No what if's or such. No problem with losing any of your investment, very much unlike the Stock Market where you can literally lose your shirt almost without blinking.
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Old 04-26-2015, 12:55 PM   #38
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GolSil,
This is the perfect opportunity for someone like me to lower their DCA by picking up as much shiny as I can. To that end, I just bought 50 dollars face of some good quality junk.

Keep on stackin'.
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Old 04-26-2015, 05:46 PM   #39
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Ancona.. I'm interested in buying some junk silver. Where might I get it? As for DCA, it's a good plan to follow.
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Old 04-27-2015, 06:44 AM   #40
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Originally Posted by Golsil View Post:
... just read the following:

Governments want to get rid of physical cash. Paper currency is just too private. Digital cash is much easier to track, tax, and confiscate.

...
Yeah, it's been discussed in various threads (grouped here for easy reference): http://www.pmbug.com/forum/tags/cashless/

Seems like that recent Bloomberg piece where the Citibank guy was advocating for doing away with cash received some attention.
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